Search found 134 matches

by Biglaw Investor
Thu Apr 12, 2018 3:07 pm
Forum: Personal Consumer Issues
Topic: Uber vs Lyft
Replies: 15
Views: 2620

Re: Uber vs Lyft

I need to take some form of transport from Manhattan to JFK airport at 4:30 AM Sunday. I never used either of these services. Lyft offers coupons for $50 off first ride....Uber offers only $20 off. Which is better and why? Thanks I'd use Juno. They recruited all the Uber drives with 4.8+ ratings on...
by Biglaw Investor
Thu Apr 12, 2018 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: DINK High Income Earners - how to lessen the tax impact?
Replies: 25
Views: 2440

Re: DINK High Income Earners - how to lessen the tax impact?

You could make less money, but I'm guessing you don't want to do that. You could also move to a no-income tax state - but then you've got that covered too! How about two Backdoor Roth IRA contributions for $11K? I didn't see that in your list. Won't save you taxes today but will save you taxes in th...
by Biglaw Investor
Fri Apr 06, 2018 4:44 pm
Forum: Personal Consumer Issues
Topic: How often do you replace your office shoes?
Replies: 58
Views: 3676

Re: How often do you replace your office shoes?

Just curious here. How often do you wear out your daily office/work shoes? Mine are three years old today, and I keep thinking about replacing them. This past winter has seemed to accelerate the wear. I alternate pairs so I tend to wear brown on Monday, black on Tuesday and so on. The brown ones ar...
by Biglaw Investor
Wed Apr 04, 2018 11:42 am
Forum: Personal Finance (Not Investing)
Topic: SoFi refinancing
Replies: 7
Views: 494

Re: SoFi refinancing

I haven't read through your other thread but did you rate shop? SoFi is not the only game in town. I'd try a few of the other companies. Keep in mind that there's nothing stopping you from refinancing again in the future, so you could refinance today and then refinance again a year later (if the rat...
by Biglaw Investor
Sun Mar 25, 2018 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Non-Owner Car Insurance
Replies: 11
Views: 1084

Re: Non-Owner Car Insurance

Question: If you were to drive a borrowed (and insured) car from a friend or acquaintence - and were involved in a potential liability accident, which insurance would cover this first - your (non-owner) or the owner's? That's a great question. I'm not sure but I think the answer is that the non-own...
by Biglaw Investor
Sun Mar 25, 2018 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Non-Owner Car Insurance
Replies: 11
Views: 1084

Re: Non-Owner Car Insurance

I live in a city and don't own a car. About 30 days a year I rent a car. I rely on my Chase Reserve for collision insurance and purchase liability insurance from the car rental company for $13 / day. Instead of paying for the liability insurance each time, would it make more sense to take out a non...
by Biglaw Investor
Wed Mar 14, 2018 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Selling business (website) considerations
Replies: 27
Views: 2293

Re: Selling business (website) considerations

I don't think you get capital gains rates. Depends how the business was set up. Tell me how to set it up so you get capital gains rates. I'm definitely no tax expert (we have a whole department for that), but if you and your wife each own 50 shares of WhiteCoatInvestor Empire, Inc., a Delaware corp...
by Biglaw Investor
Thu Mar 01, 2018 5:55 pm
Forum: Personal Consumer Issues
Topic: PC Guy. Inherited a Mid-2012 MacBook Pro ($500 value). Talk me into/out of keeping it.
Replies: 37
Views: 2716

Re: PC Guy. Inherited a Mid-2012 MacBook Pro ($500 value). Talk me into/out of keeping it.

Wow. You can get $500 for a computer that is six years old? I just traded my mid-2012 Macbook Air in for $211. It doesn't sound like you need the computer. I'd convert that into VTSAX pronto.
by Biglaw Investor
Thu Mar 01, 2018 4:52 pm
Forum: Investing - Help with Personal Investments
Topic: Planning for Backdoor Roth
Replies: 6
Views: 440

Re: Planning for Backdoor Roth

And it sounds like the consensus is that the additional expense drag caused by the rollover of my spouse’s IRA is worth getting the opportunity to also do a backdoor for her. Yes, I think it's worth it too. One other idea to consider. Does your spouse have any self-employment income? Even as little...
by Biglaw Investor
Wed Feb 28, 2018 5:25 pm
Forum: Investing - Help with Personal Investments
Topic: NY 529 and K-12
Replies: 19
Views: 976

Re: NY 529 and K-12

If you are a resident of NJ but work in NY, do not deduct your NY 529 contribution on NY state tax. Reason is this- any amount you deduct from NY tax will increase NJ tax by the same amount, so no benefit. Additionally, if you move your NY 529 plan to any other state, NY will recapture those deduct...
by Biglaw Investor
Wed Feb 28, 2018 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Couple Medical Students - Refinance vs IDR plan
Replies: 1
Views: 203

Re: Couple Medical Students - Refinance vs IDR plan

If we were to refinance her loans. The plan would be to try to get a rate lower than the effective repaye rate of 3.77%, and pay that over a 5-10 year term. Some questions I have with this is how probable is it to get a rate of < 3.77 (Effective REPAYE rate), in the setting of a good credit score a...
by Biglaw Investor
Wed Feb 28, 2018 11:36 am
Forum: Personal Finance (Not Investing)
Topic: What next? A personal finance story starting in 2012, updated in 2016, and again in 2018
Replies: 49
Views: 5190

Re: What next? A personal finance story starting in 2012, updated in 2016, and again in 2018

I am now 37, married, and I have two young girls (5 and 3). My wife and I are both still lawyers. However, I practice FT and she practices PT (3 days a week). She is considering stopping work to be there more for oru children as my oldest will start Kindergarten next year. I make approximately $450...
by Biglaw Investor
Wed Feb 28, 2018 11:10 am
Forum: Investing - Help with Personal Investments
Topic: NY 529 and K-12
Replies: 19
Views: 976

Re: NY 529 and K-12

https://www.nysaves.org/home/fe.html Here it is. Here's the preliminary report itself. https://www.tax.ny.gov/pdf/stats/stat_pit/pit/preliminary-report-tcja-2017.pdf The relevant portion is pasted below. N. 529 Plans Previous Federal Law: Federal 529 plans incentivize saving for college and other p...
by Biglaw Investor
Wed Feb 28, 2018 10:57 am
Forum: Investing - Help with Personal Investments
Topic: NY 529 and K-12
Replies: 19
Views: 976

Re: NY 529 and K-12

If I read your post correct, there should not be any taxes on earnings used for K-12 distributions. Is this right? I agree with Spirit Rider's read. The recapture would only apply to the NYS tax benefits you received upon contribution, which for you is none (and so nothing to recapture). The other ...
by Biglaw Investor
Tue Feb 27, 2018 5:59 pm
Forum: Investing - Help with Personal Investments
Topic: NY 529 and K-12
Replies: 19
Views: 976

Re: NY 529 and K-12

Can you link or post the information about the 529 plan not allowing withdrawals for K-12 education?
by Biglaw Investor
Tue Feb 27, 2018 5:27 pm
Forum: Personal Consumer Issues
Topic: Best way to find short term/vacation renters for NYC apartment
Replies: 9
Views: 657

Re: Best way to find short term/vacation renters for NYC apartment

I can't think of anyone who wants apartments in the building they live in used as hotel rooms with the unvetted strangers coming and going at all times of the day and night without any respect for the rightful residents, inappropriate behavior, noise, bed bugs, etc. I'd love it if we could have Air...
by Biglaw Investor
Mon Feb 26, 2018 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Student loan information source
Replies: 18
Views: 1253

Re: Student loan information source

I'd look at refinancing with PenFed. I paid off most of my law school loans and refinanced the small remaining balance to get a better rate and PenFed offered much better rates than SoFi and the other often touted lenders . . . I think many of them reserve the best rates for physicians as opposed t...
by Biglaw Investor
Mon Jan 22, 2018 11:19 am
Forum: Investing - Theory, News & General
Topic: jlcollinsnh - Stock Series
Replies: 14
Views: 2119

Re: jlcollinsnh - Stock Series

JDot wrote:
Mon Jan 22, 2018 11:02 am
JL Collins is referenced a lot in the early retirement community. I find his stuff to be largely consistent with what I learned here at bogleheads.org. I'm interested to hear what others say.
JL Collins is the real deal. My experience is that his writing meshes very well with Boglehead philosophy.
by Biglaw Investor
Thu Jan 18, 2018 8:00 am
Forum: Personal Consumer Issues
Topic: Travel to Rome Italy - Recommendations
Replies: 23
Views: 1788

Re: Travel to Rome Italy - Recommendations

Definitely check out the Basilica di San Clemente al Laterano (as a previous poster mentioned). I lived in Rome for 5 months and it was one of my favorite places to visit repeatedly. It's essentially a church on top of a church on top of a home and each flight of stairs down reveals a new structure ...
by Biglaw Investor
Thu Jan 18, 2018 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Student loans or IRA withdrawal
Replies: 2
Views: 238

Re: Student loans or IRA withdrawal

So what would you do? Go into student loan debt, or start at 0 with your retirement portfolio? On principle I'd really like to stay away from any loans. What would I do? I would leave the money in my IRA and harness the feelings of being uncomfortable with student loan debt to make sure I borrowed ...
by Biglaw Investor
Fri Jan 12, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: Variable rate student loans, why not highest % all the time?
Replies: 3
Views: 387

Re: Variable rate student loans, why not highest % all the time?

I don't have much to add that TropikThunder didn't already say but in addition to the Sallie Mae promissory note, this is usually spelled out in any student loan promissory note you'd sign. The rate will be tied to an index and will likely have rails that allow for how fast the rate can go up and th...
by Biglaw Investor
Wed Jan 03, 2018 6:10 am
Forum: Personal Finance (Not Investing)
Topic: Taxes [Do it yourself or use tax software?]
Replies: 39
Views: 3079

Re: Taxes

Do you do your own taxes or use tax software? If you do your own taxes then what company do you use? If you use tax software then what do you use? I do my taxes by hand and use tax software (TurboTax). It makes me sharper and I learn a little each year. So far haven't had the need to use a CPA. Mos...
by Biglaw Investor
Tue Jan 02, 2018 7:54 am
Forum: Investing - Help with Personal Investments
Topic: Beginning Investor, knowledgeable enough to switch from EJ to Vanguard?
Replies: 6
Views: 590

Re: Beginning Investor, knowledgeable enough to switch from EJ to Vanguard?

-Should I wait to switch until I have a better understanding of different mutual funds, ETFs, etc. By asking the question, sounds like you have a good enough understanding to know that EJ isn't serving you, so I'd say you already have a good enough understanding to switch. It's not going to be scar...
by Biglaw Investor
Sun Dec 31, 2017 6:39 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard - repeated back door roth logistic question
Replies: 5
Views: 753

Re: Vanguard - repeated back door roth logistic question

I did my first backdoor roth last week with my vanguard account. It went smoothly, but I see that the original IRA account is still around. For folks that do these yearly, do you open a new IRA account each year or just contribute the limit to the old account and do the conversion again? No, I cont...
by Biglaw Investor
Sun Dec 31, 2017 6:32 am
Forum: Investing - Help with Personal Investments
Topic: Two-comma club just in time for the New Year, and thank you
Replies: 47
Views: 5082

Re: Two-comma club just in time for the New Year, and thank you

luminous wrote:
Sat Dec 30, 2017 11:34 pm
We are renters, so this is pure invested assets, no home value or other capital assets.
Congratulations! Thanks for sharing. I always enjoy seeing someone announce this when it's pure liquid investments and not just value tied up in home equity.
by Biglaw Investor
Mon Dec 25, 2017 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Student loan forgiveness
Replies: 12
Views: 1872

Re: Student loan forgiveness

The loans are income based and the filing of income and taxes as single or married is a big piece that we haven’t quite tackled. We are considering working with an accountant to figure out our best course of action. That piece, along with the uncertainty around the likelihood of the policy remainin...
by Biglaw Investor
Mon Dec 25, 2017 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Do you see a meaningful change in your income with new Tax Bill?
Replies: 266
Views: 22879

Re: Do you see a meaningful change in your income with new Tax Bill?

Meaningful? No. The calculators show a savings of about $500 next year and a corresponding increase of about ~$500 in 2027. Live in NYC but was subject to AMT. The real change will be in how I restructure income going forward. Tax laws are public policy planning tools, so we will adjust accordingly ...
by Biglaw Investor
Mon Dec 25, 2017 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Will you donate less to Charity?
Replies: 109
Views: 8257

Re: Will you donate less to Charity?

Yes, we will donate less to charity. I live in NYC with no car and often have to pay people to haul charitable donations to charities. I can justify this since the tax break is well worth it. Now, I suspect we'll end up throwing more old things away or simply putting them outside for someone to pick...
by Biglaw Investor
Mon Dec 25, 2017 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Securing Law School Scholarships
Replies: 37
Views: 3068

Re: Securing Law School Scholarships

Here's a trick most people don't realize - you can negotiate scholarships! If UVA offers you money for example, go calling any peer schools you get into and see if they can match it. I'd pay attention to this OP. Nearly A Moose is dead on. Most people don't realize that you can negotiate scholarshi...
by Biglaw Investor
Sat Dec 23, 2017 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Student loan forgiveness
Replies: 12
Views: 1872

Re: Student loan forgiveness

I haven’t been able to do a detailed analysis, accounting for tax impacts, etc. That's going to be your first step. What repayment plan is she in (IBR or REPAYE or ... )? Now that you're married your payments are going to be based on your combined income unless you file your taxes MFS, which usuall...
by Biglaw Investor
Sat Dec 16, 2017 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 25631

Re: Prepayment of SALT Taxes? [State and Local]

chicagoan23 wrote:
Sat Dec 16, 2017 6:48 am
By my reading the NY Times has it wrong with respect to property tax payments
I agree with your reading.
by Biglaw Investor
Sat Dec 16, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 25631

Re: be careful, no longer allowed to prepay local and state taxes for a deduction

I just read this too and was coming to the forum to post the same thing. "Taxpayers may deduct only up to $10,000 total, which may include any combination of state and local taxes, including property taxes (also sales taxes). But don’t try to prepay your income taxes before year-end to circumvent th...
by Biglaw Investor
Fri Dec 15, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Two commas, I'm calling it
Replies: 20
Views: 4838

Re: Two commas, I'm calling it

Awesome. Congratulations!
by Biglaw Investor
Sun Dec 10, 2017 7:12 am
Forum: Personal Consumer Issues
Topic: USAA 2.5% Cash Back Credit Card
Replies: 278
Views: 50408

Re: USAA 2.5% Cash Back Credit Card

I tried to figure this out as well and eventually gave up. I opened up this card in June and best I can tell I actually have slightly more cashback than I expect based on my records of spending, so I'm just going to be happy with that and keep going. Until I read this thread I didn't realize the pro...
by Biglaw Investor
Sun Dec 10, 2017 6:49 am
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 25631

Re: Prepayment of SALT Taxes? [State and Local]

I've been playing with Turbotax. The very short answer that seems to be the case for me, is that if you are subject to AMT solely because of SALT deductions, I'm not sure that prepaying 2018 taxes (assuming it can be done) helps much. FWIW, I am I have an AGI of ~$400,000 and deductible SALT taxes ...
by Biglaw Investor
Sun Dec 10, 2017 6:42 am
Forum: Personal Finance (Not Investing)
Topic: How can someone who earns 500k/yr in w2 be in 25% tax bracket?
Replies: 17
Views: 2818

Re: How can someone who earns 500k/yr in w2 be in 25% tax bracket?

Can you clarify how effective tax rate works in the sample? If you haven't spent a lot of time at the White Coat Investor's site, he posts a tax report each year. His income is in the $1+ million and his effective federal tax rate was 21.7% last year (I actually think the second link would be more ...
by Biglaw Investor
Sat Nov 25, 2017 8:55 am
Forum: Personal Consumer Issues
Topic: Should I keep the new iPad I bought or return it?
Replies: 51
Views: 4120

Re: Should I keep the new iPad I bought or return it?

So to all the tablet owners out there do you use yours or is it sitting in a drawer someplace? What's more important is whether you'll use it! I have an iPad Pro 12 inch and an iPad Air 2. I love and use BOTH all the time but they're not for everyone. I'd try it out for awhile and return it if you ...
by Biglaw Investor
Sat Nov 25, 2017 8:52 am
Forum: Personal Consumer Issues
Topic: Apple people: Office 365 or Apple's stuff?
Replies: 14
Views: 1188

Re: Apple people: Office 365 or Apple's stuff?

I'm all Apple as well but still use Microsoft Office products (Word and Excel), mainly for work. The great thing about the Apple platform is the talented developers that write great programs. If you're looking for a writing app, there are some great ones (Scrivener for writing books, Ulysses for sho...
by Biglaw Investor
Fri Nov 03, 2017 6:18 am
Forum: Personal Finance (Not Investing)
Topic: Alway contribute to HSA if incurring medical expenses?
Replies: 10
Views: 1225

Re: Alway contribute to HSA if incurring medical expenses?

If I have a $3000 qualified medical expense that I have paid out of pocket, can I just contribute $3000 to my HSA and then request a distribution right after to avoid paying the income tax on that money at the end of the year? My understanding is that as long as the HSA account was opened before th...
by Biglaw Investor
Fri Nov 03, 2017 6:09 am
Forum: Investing - Help with Personal Investments
Topic: New 2 comma member
Replies: 28
Views: 2985

Re: New 2 comma member

Congratulations! Your secret is safe with us. :sharebeer
by Biglaw Investor
Fri Oct 20, 2017 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: just hit the two comma club today...some thoughts
Replies: 37
Views: 6147

Re: just hit the two comma club today...some thoughts

Congratulations! Thanks for posting and sharing the news.
by Biglaw Investor
Thu Oct 19, 2017 6:09 am
Forum: Investing - Help with Personal Investments
Topic: Question about Personal Capital
Replies: 18
Views: 2251

Re: Question about Personal Capital

They've called me 3-4 times. I've never answered and never spoken to anyone there. I don't find the calls/voicemails annoying.
by Biglaw Investor
Wed Oct 11, 2017 5:21 am
Forum: Local Chapters and Bogleheads Community
Topic: Brooklyn, NY Meetup
Replies: 9
Views: 1359

Re: Brooklyn, NY Meetup

I'd be up for a meeting. I live in Cobble Hill.
by Biglaw Investor
Tue Oct 10, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: My student loan refi experience (SoFi, Earnest, CommonBond)
Replies: 20
Views: 10000

Re: My student loan refi experience (SoFi, Earnest, CommonBond)

The main problem now is that they were sold to Navient, the Bear Stearns of student loan companies. Thanks for the update. Back when I refinanced and paid off my loans I went with Earnest. I had a great experience and enthusiastically recommended the company to friends. I'm surprised that they ende...
by Biglaw Investor
Thu Jun 29, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Net worth - thanks to this site
Replies: 15
Views: 4059

Re: Net worth - thanks to this site

Nice work! Thanks for sharing.
by Biglaw Investor
Sun Mar 12, 2017 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: IBR Student Loans or Retirement Investing
Replies: 14
Views: 1703

Re: IBR Student Loans or Retirement Investing

The math seems to favor taking the forgiveness The interest doesn't actually compound. It only compounds if it capitalizes, which should only occurr if OP loses financial hardship status or other events happen. So it would just be 64000+64000*.067*17, which is about 137K. At a 15% federal (not unli...
by Biglaw Investor
Fri Mar 10, 2017 3:32 pm
Forum: Investing - Help with Personal Investments
Topic: Payoff Student Loans Early? Requesting help.
Replies: 14
Views: 1161

Re: Payoff Student Loans Early? Requesting help.

Another vote for option 4. I'd use the money in my efund and press the delete button on those student loans!
by Biglaw Investor
Fri Mar 10, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Public Student Loan Service Forgiveness
Replies: 5
Views: 1140

Re: Public Student Loan Service Forgiveness

You need a little more information to make the decision. As @chasingbutterflies said, I'd get started on the PSLF Certification form today to see how many "qualified payments" you've made. When you send the form to the Department of Education they will transfer all of your loans to FedLoan Servicing...
by Biglaw Investor
Fri Mar 10, 2017 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: IBR Student Loans or Retirement Investing
Replies: 14
Views: 1703

Re: IBR Student Loans or Retirement Investing

The math seems to favor taking the forgiveness Can you elaborate on this? When I ran the numbers quickly, a $64,000 debt over 17 years at 6.7% interest results in a forgiven balance of $192,741.44. If that forgiven balance is taxed at a marginal tax rate of 33%, then you'll end up with a tax bill o...
by Biglaw Investor
Thu Jan 26, 2017 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: Student Loan vs Invest
Replies: 14
Views: 1883

Re: Student Loan vs Invest

BTW, all retirement, profit sharing, emergency fun, are fully funded. Based on this, I'd pay down the debt. In fact, I did so recently when I paid off my student loans. It feels great to be 100% debt free. I also read the other replies and thought it would be good to post a counter opinion. One way...